Astute Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06989810 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 26 AUGUST 2020 TO 24 AUGUST 2021

FOR

ASTUTE ESTATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P R Elliott

Ms A M Geraghty

SECRETARY:

Ms A M Geraghty

REGISTERED OFFICE:

Platt Chapel

186 Wilmslow Road

Manchester

M14 5LL

REGISTERED NUMBER:

06989810 (England and Wales)

ACCOUNTANTS:

Connaughton & Co

2nd Floor, Boulton House

17-21 Chorlton Street

Manchester

M1 3HY

FIXED ASSETS

Tangible assets

4

9,855

8,141

CURRENT ASSETS

Stocks

302,267

275,000

Debtors

5

178,392

122,993

Cash at bank

12,408

41,756

493,067

439,749

CREDITORS

Amounts falling due within one year

6

136,393

94,393

NET CURRENT ASSETS

356,674

345,356

TOTAL ASSETS LESS CURRENT LIABILITIES

366,529

353,497

CREDITORS

Amounts falling due after more than one year

7

(243,106

)

(238,171

)

PROVISIONS FOR LIABILITIES

9

(1,425

)

(1,002

)

NET ASSETS

121,998

114,324

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

121,996

114,322

SHAREHOLDERS' FUNDS

121,998

114,324

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 24 August 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 24 August 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2022 and were signed on its behalf by:

P R Elliott - Director

1.	STATUTORY INFORMATION

Astute Estates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2020 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 26 August 2020

20,418

Additions

5,000

At 24 August 2021

25,418

DEPRECIATION

At 26 August 2020

12,277

Charge for period

3,286

At 24 August 2021

15,563

NET BOOK VALUE

At 24 August 2021

9,855

At 25 August 2020

8,141

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24.8.21

25.8.20

£

£

Amounts owed by associates

84,374

122,009

VAT

18,069

-

Prepayments and accrued income

75,949

984

178,392

122,993

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24.8.21

25.8.20

£

£

Bank loans and overdrafts

25,000

-

Other loans

11,885

10,976

Trade creditors

10,670

15,006

Tax

48,249

44,347

Social security and other taxes

8,188

5,118

VAT

-

1,627

Other creditors

620

644

Business card

2,136

3,721

Wages control account

12,176

11,305

Directors' loan accounts

16,196

13

Accruals and deferred income

1,273

1,636

136,393

94,393

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

24.8.21

25.8.20

£

£

Bank loans - 1-2 years

16,667

-

Other loans - 1-2 years

12,871

11,885

Other loans - 2-5 years

45,374

41,901

Other loans more 5yrs instal

168,194

184,385

243,106

238,171

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

168,194

184,385

8.	SECURED DEBTS

The following secured debts are included within creditors:

24.8.21

25.8.20

£

£

Other loans

238,324

249,147

The other loans are secured by way of fixed and floating charges over the assets of the company.

9.	PROVISIONS FOR LIABILITIES

24.8.21

25.8.20

£

£

Deferred tax

1,425

1,002

Deferred

tax

£

Balance at 26 August 2020

1,002

Accelerated capital allowances

423

Balance at 24 August 2021

1,425

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

24.8.21

25.8.20

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

earnings

£

At 26 August 2020

114,322

Profit for the period

11,674

Dividends

(4,000

)

At 24 August 2021

121,996